Our approach
Our research makes use of wave 2 – Round 6 of the Great Britain Wealth and Assets Survey (WAS), accessed via the UK Data Service. We use data from the WAS which contains estimates of individual middle east rcs data total net wealth and its subcomponents for all survey respondents.
Importantly, because WAS is a longitudinal survey, we can track changes in individual wealth over time. WAS also contains retrospective information on individual’s parent’s characteristics at the time an individual was a teenager. to housing tenure (two groups) and parent’s educational attainment (three groups), both of which have been shown to be good proxies of early life resources.
We follow previous studies and estimate the intergenerational correlation in wealth using a rank estimator. The rank estimator relies on ordering individuals based on certain characteristics, from lowest to highest value. Parental wealth rank, our independent variable of interest, is based on housing tenure and education interacted together.